Galt Global Review

QFS 360

March 17, 2004
business digest


European Roundup
by Esme Friesen

headlines:
European Commission big on small business
Kyoto Protocol now legally binding in the EU
SOHO - the only way to really look at the sun

European Commission big on small business
The European Commission reported this month that too few Europeans are setting up their own businesses and too few small businesses in Europe experience substantial growth. Yet almost half of Europeans say they would prefer to be self-employed, and almost a third of Europe's small and medium sized enterprises (SME) cite growth as their main ambition. To overcome this paradox, the European Commission launched a new Action Plan to boost entrepreneurship in Europe.

"Europe needs more entrepreneurs to boost our lagging competitive performance," said Enterprise Commissioner Erkki Liikanen. "To strengthen innovation, competitiveness and growth, more Europeans need to start or take over businesses, and once a business is established it needs the conditions in which it can grow."

To encourage entrepreneurship, the Action Plan suggests fostering a more entrepreneurial mindset among young people and looking at how bankruptcy and other rules could be adapted to reduce the stigma of business failure.
Improving the way business transfers are treated and examining whether social security provisions discourage people from taking the jump from employment to self-employment are also high on the agenda.

The Action Plan also focuses on providing tailor-made support for women and ethnic minorities and on reducing the complexity of complying with tax laws.
Examples of best practice will be benchmarked and shared across the new enlarged Europe. Special attention will be given to SMEs' viewpoints when new legislation is being drafted.

The Action Plan builds on the broad consultation on the Entrepreneurship Green Paper published last year. This allowed all interested stakeholders to be involved in setting the future entrepreneurship agenda.

Kyoto Protocol now legally binding in the European Union
The European Parliament and the Council have announced they have adopted all of the measures necessary to make all the remaining requirements under the 1997 Kyoto Protocol legally binding in all Member States. The greenhouse gas emission targets of the European Union (EU) and its individual Member States became binding in 2002.

The most recent action deals with the way in which emissions have to be monitored and reported in accordance with the Protocol. With this action, all provisions of the Kyoto Protocol have become EU law.
" Now we have adopted all the necessary EU legislation to carry out our commitments under the Kyoto protocol," said Margot Wallström, European Commissioner for the Environment. "This means that we are fully implementing this important Protocol even before it has entered into force at international level. As a strong bloc of soon-to-be 25 countries, the European Union has a special responsibility to show global leadership and pave the way for other countries to follow suit."

The new rules provide concrete procedures for accounting, reporting and review of emissions, replacing and widening the previous Greenhouse Gas Monitoring Mechanism Decision, which only covered requirements arising from the 1992 UNFCCC. In addition, the rules address reporting and monitoring issues related to the EU's "Burden Sharing Agreement", under which each Member State has accepted an individual target for limiting or reducing its greenhouse gas emissions when the EU ratified the Kyoto Protocol in 2002.

The new rules will allow Member States and the EU to monitor their progress towards meeting their reduction targets and, based on this, take additional measures, if necessary. They also provide for the necessary co-ordination between the EU and the Member States during the UN compliance and review procedures envisaged by the Kyoto Protocol. Within the EU, the Commission has to assess progress annually and, if necessary, propose suitable measures.

SOHO - the only way to really look at the sun
SOHO, a solar observatory, is a mission of international co-operation between ESA and NASA, launched in December 1995. Every day SOHO sends thrilling images from which research scientists learn about the Sun's nature and behaviour and experts around the world use SOHO images and data to help them predict 'space weather' events that could affect our planet.

As such, the Sun ejected a spectacular 'eruptive prominence' into the heliosphere last Friday and SOHO faithfully recorded the event.

This 'eruptive prominence' is a mass of relatively cool plasma, or ionised gas. It is considered 'relatively' cool, because the plasma observed by the Extreme-ultraviolet Imaging Telescope (EIT) on board SOHO was only about 80,000 degrees Celsius, compared to the plasma at one or two million degrees Celsius surrounding it in the Sun's tenuous outer atmosphere, or 'corona'.

At the time of this snapshot, the eruptive prominence seen at top right was over 700,000 kilometres across - over fifty times Earth's diameter - and was moving at a speed of over 75, 000 kilometres per hour.

Eruptive prominences of this size are associated with coronal mass ejections (CMEs), and the combination of CMEs and prominences can affect Earth's magnetosphere when directed toward our planet. However, in this case, the eruptive prominence and associated CME were directed away from Earth.